The Livery Newsletter and Gazette Issue 30 Spring 2019 | Page 8
The lunch was deliciously catered by Mark Grove
The commitments for the current year are shown
and his team at Cook & Butler and we cracked
below. Each principal charity is monitored and
along at a goodly pace. Our guests were admirably
an annual review is conducted before deciding to
introduced by Liveryman Fran Morrison and our
commit to further funding.
Principal Guest, Tim Wonnacott gave a generous and
very humorous reply to which I responded
initially
£
by
drenching
poor Tim
in Prize
a glass of water
Sevenoaks
School
Music
500 - he was
very kind about it (sorry Tim!). I was very pleased
Arundel Castle Cricket
10,000
to show off the newly found Livery Grant of Arms
Foundation
and Letters Patent which have been missing for many
Guildhall
of Music Trust
20,000 out, and
years
- our School
Clerk tenaciously
sought them
Barrow
Farm Riding
for Master,
the
10,000
the
new Immediate
Past
Chris
Allen, and his
Disabled
IPM, Mark Gower-Smith have funded a beautiful re-
Sheriffs' & Recorders'
Fund
10,000 in frames
presentation
and they are
now resplendent
carved
with House
tobacco
leaves (or of close to);
Sandra also
Pembroke
(Academy
15,000
located
a
huge
banner
not
seen
since
1985
and Angus
Music)
Menzies,
Clerk
to the
Master Mariners
and never shy
Pembroke
House
(Inclusive
15,000
of Dance
a challenge
saw to it that it was displayed on the
Project)
Quarterdeck.
London Regiment Welfare Fund 2,500
Whilst
all this Jewry
was going on, apparently
biblical-
St Lawrence
1,000
style
downpours
were
being
had
all
over
London
Bobath Centre
10,000
- Mark
oblivious
to all
that drama we ended 10,000
our lunch
Evison
Foundation
and trooped back to the quarterdeck where Coffee,
Katherine Low Settlement
5,000
Cigars, and Cognac awaited us (I did mention that
Spitalfields
Crypt Trust
11,000
our
Livery enjoyed
dining on the High
C’s..) and
Physics
Partners
10,000 Jemma
which
seemed
to hit the mark – Liveryman
Freeman
had kindly
Other regular
grants provided the torpedo
4,400 cigars
and had had them placed in souvenir tubes with our
Crest donations
emblazoned on it. Several of us also sported
Your
a limited edition Livery Smoking hat - originally
Thank
you as
to a all
who
supported
the Benevolent
conceived
sort
of have
shooting
hat, it serves
its
Fund
during
the
last
year
and
continue
to
do
so. I
purpose so well as a “team” hat, that of the twenty
can
assure
you
the work
makes
a real
ordered,
but
one that
remained
by we
the do close
of the
day!
difference
to
so
many
lives.
Please
contact
me if us the
Thank you to the Master Mariners for allowing
you
wish
renew to your
or remember
the
use of
the to
venue,
Tim pledge
for being
a perfect Principal
Benevolent
Fund
when reviewing
will. my
Guest, and for
everyone
attending your
and giving
year such a special start.
The Trustees can and should take long term views
when carrying out their duty to invest. Quilter
Cheviot’s investment performance is monitored
against benchmarks and they are expected to explain
variances against those benchmarks. The funds are
geographically diverse and also spread across several
asset classes. Provided investors do not have to sell
assets at historic lows, volatility is background noise
and the general advice is to sit tight. Quilter Cheviot
is also aware how important it is for the Trustees
to be able to secure a reliable stream of investment
income.
The Welfare Fund makes grants and distributions
from the significant donations from the tobacco
companies and the income generated by the
investment portfolio. In recent years, the inflow of
cash has matched the outflow. Similarly, the General
Fund sets an annual grant target for donations
to our charities based on regular donations from
the livery plus investment income less governance
costs. In anticipation of current market conditions,
the Trustees decided to increase uninvested cash
to at least one year’s forecast cash outflows for both
the Welfare Fund and General Fund. In other
words, it is unlikely that the Trustees will be forced
to sell assets when prices are low to meet their
commitments to our beneficiaries.
General Fund’s budgeted donations for
the current year
CCHF All About Kids has been a long-term recipient
of support from the Benevolent Fund. The charity
provides holidays for disadvantaged children.
However, after the Trustees were informed that the
charity would be merging with the much bigger
charity, Outward Bound, it was decided that we
should discontinue our support.
Ralph Edmondson
Secretary
The
Master
S Pinter Youth Project provides out of school
social activities to disadvantaged children in
North London. It was decided not to renew the
commitment to support the charity after four annual
donations of £10,000.
[email protected]
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